I have been attempting to work out a modification on my current CCO Mortgage due to a divorce and now have a single income. I would be able to afford lower payments if they...Read complete review

I have been attempting to work out a modification on my current CCO Mortgage due to a divorce and now have a single income. I would be able to afford lower payments if they would switch the loan back to a 30 year instead of the 15 we had as a couple. They did not approve me for a modification; but threatened to foreclose unless I signed a re-payment plan. I have been struggling with the higher payments for 5 months and called to work out another re-payment plan and was told I could not qualify for a modification while on this repayment plan. So if I stop the repayment plan...then I will be eligible?? OK..so I asked the same day that my payment was due (which I did not have enought to pay) if they would send me the paperwork for the modification stating a hardship....(this was the 3rd time I had filled out this paperwork....and 2 weeks later I did not receive any documents. So i called back to have them send out paperwork and they did not know why I didn't receive the others....and I was told that their process could take 30-60 days to process...but I had to have my paperwork back to them in 7 days...I am so frustrated with this process and cannot understand why they will not work with people who are willing to make an attempt to pay and are willing and able to make decent payments. They have repeatly raised my escrow as well and I do not know where the extra money is going. My repayment plan was $450 higher than the 15 year monthly payment (which I was having trouble making)....why would they put me on this type of plan if I requested a modification. I am currently in the process of filling out another set of papers to claim a hardship and request a TRUE modification. In the meantime...my credit is being trashed and will find it difficult to re-finance with another company due to their lack of assitance int eh first place. CCO is not performing in the interest of the customer. Have owned my home for 19 years, and now they are threatening to take it back....I am disgusted enought to say ...here you go......very disturbed about the state of the banking industry...

VS

Most Liked Negative Review

Run, don't walk, as far away from CCO Mortgage as you can!

My husband and I have bought and sold several homes so we are not new to the mortgage market. We purchased our current home in 2006 and received a loan from **CCO...Read complete review

My husband and I have bought and sold several homes so we are not new to the mortgage market. We purchased our current home in 2006 and received a loan from **CCO Mortgage**, which we obtained through our bank, *Charter One*.

We had used **CCO Mortgage** on our previous home with no problems, so when their rates were competitive with other banks, we decided to use them again.

We thought that all was well until one year after we closed on our mortgage loan. We received a letter stating that our escrow account was short by almost $6,000!!!! As if that wasn't bad enough, if we chose to pay our escrow shortage IN FULL, our monthly payment would "only" INCREASE by $365 PER MONTH!

We did not understand how such a huge mistake could have happened and that's when the phone calls (and problems) began. After getting minimal assistance from the customer service department, we contacted the person who helped us obtain our mortgage. He had since left the company and told us that the local bank branches of *Charter One* no longer had mortgage representatives to help customers. We were stuck using the national so-called customer service representatives to help us sort out this mess.

After several phone calls, the best that we could do was to increase our monthly payment by over $600 PER MONTH since we were a bit shy of having almost $6000 to fork over to remove the escrow shortage. To say that we were livid is an understatement.

Flash forward to one year from that fiasco, and we are still stuck with **CCO Mortgage**. We managed to get our monthly payment lowered by $200 per month, but are still extremely unhappy. We have checked into various refinancing options with other mortgage companies, but the closing costs do not make it worth switching providers at this time.

If you are considering a loan with **CCO Mortgage**, I stand by my advice to run, don't walk, as far away from them as you can.

CCO acquired our HELOC from Country Wide. We accidently deposited a check from our credit line on 12/31/2014 and when we called CCO on 1/2/2015, they told us to send a fax directing them to not honor the check. Within 2 days the check cleared the bank and when we called they said they never received the fax. The next advise they gave us was to send a check, essentially paying them back, which we did (sent to the address they provided) and the check was never received. We then had to issue a stop payment request and reissue (mailed certified mail) and our check finally cleared the bank by the end of January . We thought all was good, but in early February, we received a phone call from CCO stating that we were past due (we had not received any statements). We explained what had transpired and were told okay. In early March, we wrote three checks against our HELOC. The first check cleared, but the other two did not. We had paid sub-contractors for home remodel work and were shocked when we were notified that the checks were returned as insufficient funds. When we called CCO, we were told our Account was frozen due to a system glitch and they were working on a resolution. At that point, CCO referred our Account to Collections. The first statement we received was dated 2/26/2015 and we were told to disregard and not make any payment until they could resolve their system issue (which would take between 30-90 days). We were assured they would not report us as past due to the credit bureaus. By the end of March, CCO reported us as 30+ days past due to all three credit agencies. In early April, we decided to payoff and close the credit line, which was accomplished by wiring $4k (approx. $ 500.00 more than the balance due) and sending a certified letter requesting account closure. CCO never acknowledged receipt of our payoff request and it took over 60 days to release the lien on our property. We will NEVER do business with CCO again - they are horrible!

No such thing as customer service. They lost our escrow check after we paid off the loan and we had to wait 60 days for them to refund the money. When asked if it could be expedited, their answer was no, we can not deviate from our policy. I am very glad that we will never again have to do business with them.

I chose to refinance our mortgage with CCO Mortgage because they already had our loan and I thought our 8 year excellent repayment history would make the process go smoothly. Unfortunately, CCO Mortgage employs very untrained processors who do not understand how to analyze FITR's for self employed people and they were asking questions 3 months later that other banks had asked the very first day I called for a rate quote....CCO took our money to lock the rate then ran out the clock without getting all the information they needed to satisfactorily review our application.

Customer ServiceOur first processor had a family emergency which of course we were sympathetic to and we received a letter with a name and number for the replacement...but when we called he didn't know anything about it and said that letter was sent in error and we had a third processor. The third processor is only part time and was never in when I called to see if they had questions.

CCO IS THE WORST MORTGAGE COMPANY IN THE WORLD. hAVE BEEN TRYING TO MODIFY OUR 6.85% MORTGAGE FOR 4 YEARS AND KEEP GETTING DENIED, EVEN THOUGH OBAMA'S HOPE HOTLINE WEBSITE SAY WE QUALIFY. I WISH I COULD GET A CEO NAME AND ADDRESS TO LET HIM KNOW HOW MUCH HIS COMPANY HAS RUINED MY LIFE.

Where is the -100 button to click on? The "very poor" option doesn't even come close. Hell is easier to deal with than this company. I wouldn't wish this company on the Devil himself.

Customer ServiceComplete incompetence every time you call. I spend at least 1.5 hours on the phone getting transferred around to 10 people. No one ever has the answer so I get transferred back to the original person who took my call and she'll "get back to me." She never does though. So I call again, spend another 1.5 hours on the phone, meeting 10 new people, only to never get resolution to my very simple problem of "Why did I get charged a late charge when you cashed my check 3 days before the payment was due?"

Types/OptionsYou get stuck with one loan option and one term choice if you are looking for a loan to add on to an existing home.

We have had a mortgage w/ CCO for about 3 years, they call us almost monthly to harass us about our payment not being recieved (on auto payment) telling us we owe penalties and fees. We call them back, they say "oh I see what happened" and it goes away (until next month). Today the person actually raised his voice to my wife and hung up on her.. and we aren't (or ever have been) late on a payment!

Customer ServiceTheir systems are either not functional or just don't exist.. 3 years of miss billing (additional payments to principle not payed to principle). Inaccurate yet aggressive "late payment" collectors..

Types/OptionsThe only option I am interested in is the option of another mortgage company

I got a 1st mortgage with Citizens in late 2004. When my first payment was due, they sold the servicing to another company and my payment went to the wrong place. It took some time to straighten that out. Not the best way to start. Then after 1 year the servicing was sold to CCO. Twice they failed to pay the insurance company and I lost my coverage. It took some effort to get things straightened out, too. But I cannot say the customer service was totally bad. Just confused. I've now paid off the mortgage and made a final payment using their payoff department hotline. Again, not easy to comply, but at least I'm free. Only thing I don't like is this electronic note thing. I wanted the note in hand, but they don't have such things, and claimed they'd record it in the town hall. All I got was the letter saying they won't do anything "for me" anymore regarding tax payments. Whatever. I'll have to verify the recording. (My mortgage had better not be tied up in some fraudulently securitized debt obligation!)

Worst financial mistake I ever made was going with this company for a loan. I would never recommend any one to use CCO Mortgage for anything. My first home loan was through them. I've been trying to refinance since the end of January. Nine months later, second time of filling out paperwork that they messed up on, a second $400 fee that they say we have to pay, and I still can't even get a phone call or response from the second, no make that third loan officer that's handled our case. Good luck trying to tell their boss because she won't return a call either. What do I have to do in order to refinance and save money. My guess is that they're going to give me another lame excuse and gladly ask for another $400!

Horrible customer service, they pass you from person to person and treat you as though you have no right to question them! They refuse to help solve a problem, always taking the "we're right, you're wrong" attitude.

I am forced to file bankrupcty because they cannot process a refi, apply cash properly or act in good faith.

Customer ServiceThe attorney general and FDIC should review this company and its lending operations. They make collection calls when accounts are current and when asked why "this is a convienance call", right. Never try to refinance with them. They will not use current credit reports but some very cheap system that gets them old data. plus when they deny you, you do not get the letter advising which credit agencies they used -required by federal law. They go through the motions of a refi process only to never write or call you to tell you that they have dropped the ball or you. I also loved having my mortgage checks returned that clearly had a remittance advise, my address and the right amount on them...then hit your credit.